Current Position Analysis The following data were taken from the balance sheet of Melo Company at the end of two recent fiscal years: Cash Current Year Previous Year Current assets: $462,100 $343,200 Marketable securities 535,000 386,100 Accounts and notes receivable (net) 218,900 128,700 Inventories 1,103,500 764,900 Prepaid expenses 568,500 489,100 Total current assets $2.888.000 $2,112,000 Current liabilities: Accounts and notes payable (short-term) $440,800 $462,000 Accrued abilities 319,200 198,000 Total current liabilities $760,000 $660,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place Current Year Previous Year 1. Working capital 2. Current ratio 3. Quick ratio b. The liquidity of Nilo has changes are the result of an Most of these from the preceding year to the current year. The working capital, current ratio, and quick ratio have all in current assets relative to current liabilities